Five companies win bids for 1,200 MW ISTS-connected solar power projects

A total of five companies have won the bids for implementation of the 1,200 MW of Inter-State Transmission System (ISTS)-connected solar power projects (Tranche IV). These include Ayana Renewable Power Private Limited (300 MW), ReNew Solar Power Limited (300 MW), Azure Power India Private Limited (300 MW), Mahindra Susten Private Limited (250 MW), Avaada Power Private Limited (50 MW).

Ayana Power, ReNew Power and Azure Power won bids for developing 300 MW capacity each by quoting Rs 2.54 per kWh. Besides, Mahindra Susten was awarded 250 MW capacity at a tariff of Rs 2.54 per kWh and Avaada Power won bids for 50 MW instead of the bidding capacity of 350 MW at Rs 2.55 per kWh. Bids for the same were invited in March 2019.

The project involves development of ISTS-connected solar power plants with an aggregate capacity of 1,200 MW across the country on build, own and operate basis.

Developer Capacity (MW) Tariff (Rs per kWh)
Ayana Renewable 300 2.54
ReNew Power 300 2.54
Azure Power 300 2.54
Mahindra Susten 250 2.54
Avaada Energy 50* 2.55

*the company bid for 350 MW but won only 50 MW

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